Jan 27, 2022
The ForthBox Ecosystem
What is decentralized finance (DeFi)?
Short for decentralized finance, DeFi is an umbrella term for a variety of applications and projects in the public blockchain space geared toward disrupting the traditional finance world. Inspired by blockchain technology, DeFi is referred to as financial applications built on blockchain technologies, typically using smart contracts. Smart contracts are automated enforceable agreements that do not need intermediaries to execute and can be accessed by anyone with an internet connection.
DeFi consists of applications and peer-to-peer protocols developed on decentralized blockchain networks that require no access rights for easy lending, borrowing, or trading of financial tools. Most DeFi applications today are built using the Ethereum network, but many alternative public networks are emerging that deliver superior speed, scalability, security, and lower costs.
Decentralized finance eliminates intermediaries by allowing people, merchants, and businesses to conduct financial transactions through emerging technology. This is accomplished through peer-to-peer financial networks that use security protocols, connectivity, software, and hardware advancements. Decentralized finance uses this technology to eliminate centralized which on the other hand is regulated; this finance model enables anyone to use financial services anywhere regardless of who or where they are.
One of the most influential and successful waves of blockchain-based innovation has been decentralized finance or DeFi. DeFi protocols are continually evolving and iterating upon proven models of financial-based agreements, fueled by their inherent advantages of permissionless composability and open-source development culture. The DeFi ecosystem advances at breakneck speed — over the last few months, a surge in liquidity-focused decentralized finance projects has ushered in a new generation of DeFi innovations which ForthBox is a good example.
What’s ForthBox DeFi?
Staking, LP Farm, and NFT are the three components of the ForthBox DeFi module. Users can stake different amounts of FBX or FORTH to receive different levels of Fighter NFTs as rewards in the staking module. Users can stake FBX/USDT LPs or FORTH/USDT LPs to farm FBX with high annual percentage yields in the LP Farm module (APY). Furthermore, at the NFT module, specific NFTs from Avatar series games could be staked to earn FBX as a reward.
Now! What’s FBX?
The ForthBox platform’s FBX token is a governance token based on BEP20. Any ForthBox ecosystem participant is eligible to receive FBX tokens, with a total issuance of 1 billion and no additional issuance. As the most widely accepted payment method in the ForthBox ecosystem, the FBX token can be used for game props, NFT purchases, Ham feeding, staking & mining, and other purposes.
What are NFTs?
To have a clearer understanding of the ForthBox Ecosystem, let’s take a dive to what NFTs actually stands for. As the term implies, Non-fungible tokens NFTs are unique digital collectibles on the blockchain. This feature makes them suitable to use in games as representations as characters, consumables, and other tradable items.
A Non-Fungible Token (NFT) is a digital, cryptographic token on the blockchain representing a unique item. An NFT has many use cases. It could be a digital asset in a game, a collectible piece of crypto art, or even a real-world object like real estate. NFTs have solved the long-standing issue of creating decentralized digital collectability and ownership in a “copy-paste” world.
How do NFT games work?
NFT games are different from just holding crypto-collectibles in your wallet. An NFT game will use NFTs in its rules, mechanisms, and player interactions. For example, a game could represent your unique character or avatar as an NFT. Digital items you find while playing the game could also be NFTs. You can then swap or trade your NFTs with other players for profit. A newer, play-to-earn model also allows you to generate income from NFT games.
To swap, create, and implement NFTs within a game, developers create smart contracts that make up the rules for the NFTs used. Smart contracts are self-executing pieces of code stored on a blockchain.
Play-to-earn NFT games give users the chance to generate an income stream through playing. Typically, a player is rewarded with tokens and occasionally NFTs, earning more the longer they play. The tokens earned are often needed as part of the game’s crafting process.
The token method is usually the more stable of the two, as tokens can be earned steadily through play while NFT drops are more chance-based. Play-to-earn has been especially popular with users in low-income countries as an alternative or boost to fixed income or social security.
What’s ForthBox NFT Market?
ForthBox NFT Market is a marketplace where participants can securely buy, sell, trade, and hold NFTs. It is made up of three modules: Carnivals, Marketplace, and My NFTs. Participants can easily trade their adorable NFTs in Marketplace, and they can view or sell their collections in My NFTs.
Who’s Ham and What’s Ham NFT ?
To commemorate the chimp Ham becoming the first primate in history to successfully land in space and return safely, we named ForthBox’s NFT “ApeGod” Ham.
The “ticket” for users to enter the ForthBox Metaverse, as well as the user’s identity certificate, is Ham NFT. On the ForthBox platform, there are currently application scenarios for minting, feeding, upgrading, mining, trading, and so on. Users will automatically earn mining revenue by staking Ham NFT’s hashrate. It will become more important in the future development.
What’s Greek Mythology Character NFT (GMCN) ?
Greek Mythology Character NFT (abbreviated as GMCN) is based on the Binance Smart Chain and is available for trading on the ForthBox NFT market. GMCN is divided into six levels: ordinary, strange, rare, epic, legend, and myth.
After feeding and upgrading, all GMCNs are generated by airdrops. The numbers are as follows: 5000 ordinary, 2500 unusual, 1250 rare, 625 epic, 312 legend, and 156 myth, all of which are first-come, first-served.
All GMCNs receive a 10% dividend from the Ham feeding game. The level of GMCNs determines the dividend ratio.
What’s Avatar Series Games NFT ?
Fighter NFT is the NFT from the first game in the Avatar series. There will be more NFTs online with the game in the future.
The admission tickets for the Avatar series of games are both Ham NFT and Fighter NFT. There are a total of 10,000 Fighter NFTs issued, with 5,000 being N-level, 3,000 being R-level, 1,500 being SR-level, and 500 being SSR-level.
Fighter NFT levels correspond to different game point coefficients, and game points correspond to hashrate, which is proportional to the dividend ratio in the game’s bonus pool.
Holders of Ham NFT and Fighter NFT can win large sums of money in the Space War game. Users with a high hashrate may receive more rewards. Fighter NFTs can be found in the ForthBox DeFi Staking and Market.
What’s ForthBox Meta Box ?
The total number of ForthBox Meta Boxes is 1024, with all of them being distributed at random to Ham NFT breeders who have reached LV.8 or higher.
To enjoy, hold Meta Boxes:
1. Airdrops of 15 Avatar series games via ForthBox NFT.
2. A 1% dividend on each of ForthBox’s 15 Avatar series games.
3. Land tax rights in ForthBox auctid 2.0.
4. With the growth of the ForthBox ecosystem, more rights and interests will be added. Please keep an eye out for specific content in our official announcement.
In Conclusion,
ForthBox is a Web3 GameFi aggregator and integrated service provider that supports all blockchain games. We make it simple for users to convert traditional games into blockchain games by allowing them to issue game NFTs with a single click.
Premised on the GameFi and NFT game ecology, ForthBox employs Web 3.0 SocialFi as a game drainage method to convert traditional game players into chain game players. In response to the GameFi project’s initial launch, the team combined its own game genes to launch the self-developed Avatar series of 15 metaverse games in phases, creating star products on the platform application layer, and establishing continuous and stable users for the platform.
Several people may regard it as a game. It is, in fact, a GameFi aggregation platform. ForthBox comes with two underlying protocols: GameFi aggregation protocol and NFT aggregation protocol. It is the world’s first platform combining GameFi+NFT+SocialFi. Visit HERE
